U.K. Paints Glum Picture on Growth

LONDON—U.K. Treasury chief George Osborne unveiled lower growth forecasts and conceded again that the government would have to borrow more than planned, as he presented his annual budget amid criticism of his stewardship of the economy.

Mr. Osborne, delivering the closely watched budget to Parliament on Wednesday, said he was determined to stick to his strategy of cuts in government spending. Still, amid increasing calls for steps to...